In addition to the series of other developments in the metaverse, Decentraland is all set for a fully virtual fashion week. Dubbed as the Metaverse Fashion Week, the event will last for four days, listing some of the giantly names from the fashion industry like Tommy Hilfiger, Selfridges, Guo Pei, Vogue Arabia, Eli Saab, Cavalli, and more. This new event will boost the NFT marketplace in the metaverse through digital wearables from these designers.
Decentraland is a blockchain-based metaverse project founded in 2016 by Esteban Ordano and Ariel Mellich. This metaverse project offers a 3D virtual world where users can create avatars to represent their person. Sold as NFTs, users are allowed to buy virtual plots in this digital world to establish their own digital spaces. The native MANA coin from Decentraland is used to purchase NFTs and other services in the metaverse. The token can also be used as a store of value and exchanged with other cryptocurrencies in the market. The increasing interest in the metaverse could bring the coin a 86% growth in 2022 alone, according to this in-depth Decentraland price prediction. Decentraland’s increasing popularity and variety in use cases make it a coin that crypto analysts are optimistic about.
This renewed interest in Decentraland came with the onset of NFTs in early 2021. Now, Decentraland is all set to host its first-ever fashion week with popular designers. Upon successfully hosting this event, the metaverse could bring greater flow and demand to the MANA coin market. Although fashion events are not new to the metaverse, there is a high demand for digital designs and NFT wearables, according to creative director Sam Hamilton. This new journey will establish a mutually profitable relationship between NFTs, fashion, and metaverse.
Reportedly, this new avenue will reflect the architecture of the previously held Paris fashion week. The event will have several pop-up shops and after-party ideas to boost sales. The beauty pageants are reported to be cyberpunk-themed and will have futuristic exhibitions. With numerous NFT and other digital fashion products from well-known brands, the event is scheduled to drop on the 24th of March and will last until the 27th.
Fashion brands have been showing an increased interest in Decentraland. Recently, the virtual world witnessed the German designer Philipp Plein establishing his base in Decentraland. Moreover, Nike, Adidas, and other renowned names too have expressed their interest in NFT-based business through a metaverse. The Denim brand, Wrangler, recently announced an exclusive NFT auction to celebrate its 75th anniversary. Wrangler also signed a contract with American singer Leon Bridges and will host the events as a tribute to his artworks. Clearly, fashion is infiltrating the digital age. But it is not only bringing a new use case but also the larger business behind it.
